Testable Implications of Models of Intertemporal Choice: Exponential Discounting and Its Generalizations

Federico Echenique, Taisuke Imai and Kota Saito

Munich Reprints in Economics from University of Munich, Department of Economics

Abstract: We present revealed-preference characterizations of the most common models of intertemporal choice: the model of exponentially discounted concave utility, and some of its generalizations. Our characterizations take consumption data as primitives, and provide nonparametric revealed-preference tests. We apply our tests to data from two recent experiments and find that our axiomatization delivers new insights and perspectives on datasets that had been analyzed by traditional parametric methods.

Date: 2020
References: Add references at CitEc
Citations: View citations in EconPapers (9)

Published in American Economic Journal-Microeconomics 4 12(2020): pp. 114-143

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
Journal Article: Testable Implications of Models of Intertemporal Choice: Exponential Discounting and Its Generalizations (2020)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:lmu:muenar:84780

Access Statistics for this paper

More papers in Munich Reprints in Economics from University of Munich, Department of Economics Ludwigstr. 28, 80539 Munich, Germany. Contact information at EDIRC.
Bibliographic data for series maintained by Tamilla Benkelberg ().